NaCCRA Forum: For-profit Communities

We live in a for-profit community in the Chicagoland area. The increases for 2022 and 2023 were larger than in previous years (6.25% and 9.8% respectively) due to the rising costs of staff, food, and everything else. The total percent of the increases between 2020 and 2023 for two of us was 23.87%. We don't yet know what the increase will be for 2024. While these increases have been substantial, they are nowhere near 80%. That seems way out of line.

Our community is well run and the management is very transparent about the finances (both revenue and costs). Every year, they explain the next year's budget to residents, and our Resident Advisory Council and Finance Committee are highly interactive with the management and owners.

I haven't heard of anything like that. But NaCCRA is primarily nonprofits and that's primarily what I know. While nonprofits may be regulated a little more, at least in most states there is no limit on fee increases. However, we tend to be on high end of CCRC increases in Maryland. Ours is about 20% over that period. Your increase is ridiculous.

Bill Samuel, Ingleside at King farm, Rockville, Maryland

We live in a Bend, Oregon Residential Care facility operated by a privately-held, for-profit company. Recently we received a letter specifying our 2024 monthly fees. The 2024 fees will be 80% higher than the fees in place when we moved in back in 2020. There has been no corresponding increase in level or quality of service that is commensurate with this percentage increase. Little explanation is given for the increases each year. Attempts to obtain more information on how fees are set and how they are spent have not been successful. Has anyone else experienced an 80% increase in their monthly fees in the 2020 to 2024 time period?

Don Hunsaker